By Matthew Russell Lee, Patreon
BBC - Guardian UK - Honduras - ESPN
SDNY COURTHOUSE, June 14 – Fifth Third Bank agreed to an arbitration about Celtic Leasing Corporation, which had been sold to MB Financial Bank, N.A., which Fifth Third was allowed to buy through merger.
Then when Fifth Third didn't like the arbitrator's finding that it violated the agreement between MB and Celtic, it filed a Federal case.
The case, in the docket of the U.S. District Court for the Southern District of New York where Inner City Press found it, asks that the Court "vacate the portion of the Award that found that Fifth Third breached."
On June 2, the parties proposed to extend the time to respond to the Petition to July 3.
Now on June 14, a settlement: "ORDER: On June 9, 2 021, the parties in the above-captioned case informed the Court that they had reached a settlement in principle. Accordingly, the case is hereby dismissed with prejudice, with leave to any party to move within 45 days from the date hereof to reopen the case if the settlement is not fully effectuated. SO ORDERED. (Signed by Judge Jed S. Rakoff on 6/14/2021)."
This case is Fifth Third Bank, N.A. v. Todd, 21-cv-4105 (Rakoff). Inner City Press is also following an ongoing case by the FDIC against Fifth Third Bank, watch this site.
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